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Secretary of Commerce Penny Pritzker Business Development Mission to Japan and South Korea


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Exciting Opportunity to Expand Your Business in Asia

Secretary of Commerce Penny Pritzker will lead a Healthcare and Energy Business Development Mission to Asia with stops in Japan and South Korea from October 19-23, 2014.  This business development mission will promote U.S. exports to Asia by helping U.S. companies launch or increase their business in the healthcare and energy sectors.  In both countries, the governments and private sector are investing significant money to develop both sectors. 

“One of our key functions at the Department of Commerce is to connect U.S. businesses with new opportunities to sell their products and services in markets with significant potential,” said Secretary Pritzker. “We see tremendous opportunities for U.S. businesses in Japan and South Korea, which have energy and health care needs that can be addressed by the goods, services, and expertise of our firms. This trade mission will help us continue to strengthen our economic and commercial ties in the Asia-Pacific region, which is a top priority for the Obama Administration.”

In both countries, the governments and private sector are investing significant money in developing their healthcare sector. In South Korea, the total market for drugs and medical device products combined is roughly $21 billion. In Japan, the over $150 billion market for these products represents the silver lining of the dark cloud of Japan’s aging population. Due to the lack of natural resources, both Japan and South Korea have long been dependent on imported energy sources to meet over its energy needs. For U.S. energy firms, Japan has a compelling need to find new energy sources, optimize the mix of energy imports and increase efficiencies in response to the March 2011 natural disasters and nuclear emergency, which led to the shutdown of Japan’s 48 nuclear facilities. Additionally, both near and long term opportunities exist in the South Korean energy sector. 

If you’re interested in participating in the upcoming business development mission, please visit the mission website to apply: http://www.export.gov/JapanSouthKoreaMission2014

Why participate in the Asia Healthcare and Energy Mission?

Business Development Missions organized by the Department of Commerce provide a unique opportunity for businesses interested in exploring export opportunities overseas. Participating U.S. companies will meet with prescreened potential partners, agents, distributors, representatives, and licensees.  The agenda will also include meetings with high-level national and local government officials, networking opportunities, and country and industry briefings.

Below are statements from two past trade mission participants highlighting their mission experience:

“The high calibre of the meetings was incredible, with access to top level government officials and decision makers. One particular high point during the mission in Ghana was meeting John Dramani Mahama, the Ghanaian President, where the group was given the opportunity to ask direct and frank questions - and received clear and fair responses. It was remarkable to have this level of access to the President and a number of the cabinet ministers, and to be able to talk frankly about business opportunities and issues. We left these meetings with confidence in doing business in Ghana.” Read more… -SolarReserve

“The overview of the economic and political situations was invaluable and reinforced our understanding of doing business in India. The dozens of meetings we had over the course of four days created direct and tangible results- direct project leads and relationships with potential new clients evolved overnight; something that would have taken years for us to establish on our own.” Read more…-EHDD Architecture

Additional Information?

Please see attached mission flyer or visit the mission’s website at http://www.export.gov/JapanSouthKoreaMission2014 or by contacting the Office of Business Liaison at BusinessLiaison@doc.gov or 202-482-1360.

Quick Facts

 

Dates:

October 18-23, 2014

Cities/Countries:

Tokyo, Japan & Seoul, Korea

Participants:

Secretary of Commerce Penny Pritzker, Selected U.S. Government Officials, and 20-25 Senior Executives from U.S. Companies

Industry Focus:

Healthcare products and services and Energy products and services

Application Deadline:

The application deadline for this mission will be Friday, August 22, 2014.

Applications received after the August 22nd deadline will be considered as time and space permits.

Application Notification:

Companies should receive final notification regarding the status of their application no later than Friday, September 5, 2014.

Participation Fee:

After a company has been selected to participate on the mission, a payment to the Department of Commerce in the form of a participation fee is required. The fee schedule for the mission is below:

  • $12,000 for large firms
  • $9,500 for a small or medium-sized enterprises (SMEs)
  • $3,500each additional firm representative (large firm or SME)

Expenses for air travel, lodging, most meals, and incidentals will be the responsibility of each mission participant.

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